Why a legacy?
Legacies are a vital part of The Firefighters Memorial Trust income. Whilst the money we raise in our various functions enables us to continue to support our immediate Trust objectives and obligations, legacies will enhance our ability to fund our long-term objectives in training, education and supportive care for firefighters and their families.
Will I be taxed?
Under current law, all gifts to charity are normally exempt from inheritance tax. This means that a donation to The Firefighters Memorial Trust under your Will may decrease the inheritance tax on your estate. For up-to-date information on the current threshold for inheritance tax, we suggest that you contact your solicitor or financial advisor.
What types of legacies are there?
If you are considering leaving us a gift in your Will, we would encourage you to first speak to a financial advisor and/or your solicitor before deciding which type of legacy you wish to leave.
This type of legacy allows you to give a specific sum of money to a charity or individual.
This type of legacy allows you to gift all or a stated percentage of the value of your estate after all the estate’s debts have been settled and the pecuniary legacies have been paid.
These are used to make a conditional gift, for example, only if other beneficiaries of the Will pass away before you do.
What else can I consider?
These gifts allow someone to benefit from a particular part of your estate during their lifetime. For example, providing a relative with the use of your house until they die, at which point you could specify that the house should pass to a specific person or persons or be donated to a charity.
What wording should I use?
The following words are for guidance only. Your solicitor will be able to guide you further and provide you with information about any necessary sub-clauses.
For a Pecuniary legacy
I GIVE to The Firefighters Memorial Trust, registered charity number in England 1139570 (in Scotland SCO41161) of 4 Dukes Meadow, Hamstreet, Ashford, Kent TN26 2HD, United Kingdom (herein after called the “the Charity”) the sum of [£ ] free of tax to be applied for the general purpose of the Charity AND I DIRECT that the receipt of one of the following: The Treasurer or another authorised officer for the time being of the Charity, shall be a good and sufficient discharge for the said legacy.
For a residual legacy
I GIVE [all / .....%] of the residue of my estate absolutely to The Firefighters Memorial Trust, registered charity number in England 1139570 (in Scotland SCO41161) of 4 Dukes Meadow, Hamstreet, Ashford, Kent TN26 2HD, United Kingdom (herein after called the “the Charity”) to be applied for the general purpose of the Charity AND I DIRECT that the receipt of one of the following: The Treasurer or another authorised officer for the time being of the Charity, shall be a good and sufficient discharge for the said legacy.
Whichever legacy you decide to leave, it is important that you include the following wording:
If at my death, any charity named as beneficiary in this Will or any Codicil hereto has changed its name or amalgamated with or transferred its assets to another body, then my Executors shall give effect to any gift made to such charity as if it had been made (in the first case) to the body in its changed name or (in the second place) to the body which results from such amalgamation or to which transfer has been made.
How do I update my existing Will?
If you have already made a Will and now wish to leave a gift to The Firefighters Memorial Trust, you will need to make a Codicil to the Will using the wording suggested. This should preferably be arranged by a solicitor and signed in the presence of two independent witnesses. All Codicils should be kept with the original copy of your Will.
Who in The Trust do I inform about my legacy gift?
As your legacy would be an important part of our charitable income it would be beneficial for our Trustees to be aware that you intend to gift us in your Will. If you are happy to let us know your intentions, please complete the attached Legacy Pledge Form or you may prefer to speak in absolute confidence with our Clerk who will then, with your permission, notify the Chair of our Trustees.
N.B. The Pledge Form is in no way legally binding and merely serves to give us an indication of potential future legacies.